Tax and Superannuation Laws Amendment (2015 Measures No. 1) Bill 2015

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
44

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Summary

Amends the: Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Medicare Levy Act 1986 and Tax and Superannuation Laws Amendment (2014 Measures No. 1) Act 2014 to abolish the dependent spouse tax offset; Income Tax Assessment Act 1936 in relation to the offshore banking unit regime; Income Tax Assessment Act 1997 to exempt the Global Infrastructure Hub Ltd from income tax liability; Income Tax Assessment Act 1997 and Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 to update the list of deductible gift recipients; 16 Acts to make technical and miscellaneous amendments; and Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to enable foreign entities to qualify for concessions under the investment manager regime either by investing directly in Australia or investing through an Australian fund manager. Also repeals the First Home Saver Account Providers Supervisory Levy Imposition Act 2008, First Home Saver Accounts Act 2008 and Income Tax (First Home Saver Accounts Misuse Tax) Act 2008 and makes consequential amendments to 18 Acts to abolish the first home saver accounts scheme.

Progress

House of Representatives
Introduced and read a first time 27 May 2015
Second reading moved 27 May 2015
Second reading debate 16 Jun 2015
Second reading agreed to 16 Jun 2015
Consideration in detail debate
  • Amendment details: 13 Government agreed to
16 Jun 2015
Third reading agreed to 16 Jun 2015
Senate
Introduced and read a first time 17 Jun 2015
Second reading moved 17 Jun 2015
Second reading debate 17 Jun 2015
Second reading agreed to 17 Jun 2015
Committee of the Whole debate 17 Jun 2015
Third reading agreed to 17 Jun 2015
Finally passed both Houses 17 Jun 2015
Assent
  • Act no.: 70
  • Year: 2015
25 Jun 2015

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

House of representatives

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Senate

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Schedules of amendments

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Bills digest

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Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.